Aggregating from Micro to Macro Patterns of Trade -- by Stephen J. Redding,...
We develop a new framework for aggregating from micro to macro patterns of trade. We derive price indexes that determine comparative advantage across countries and sectors and the aggregate cost of...
View ArticleMoral Hazard Misconceptions: the Case of the Greenspan Put -- by Gideon...
Policy discussions on financial market regulation tend to assume that whenever a corrective policy is used ex post to ameliorate the effects of a crisis, there are negative side effects in terms of...
View ArticleTax Simplicity and Heterogeneous Learning -- by Philippe Aghion, Ufuk...
We study how strongly individuals respond to tax simplicity and how they learn about the complexities of the tax system. We focus on the self-employed, who can more easily adjust to tax incentives and...
View ArticleFresh Air Eases Work - The Effect of Air Quality on Individual Investor...
This paper shows that air quality has a significantly negative effect on the likelihood of individual investors to sit down, log in, and trade in their brokerage accounts controlling for investor-,...
View ArticleAre Poor Individuals Mainly Found in Poor Households? Evidence using...
Antipoverty policies assume that targeting poor households suffices in reaching poor individuals. We question this assumption. Our comprehensive assessment for sub-Saharan Africa reveals that...
View ArticleFast and Slow Learning From Reviews -- by Daron Acemoglu, Ali Makhdoumi,...
This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic learning of the quality of a product and the speed of learning under different...
View ArticleSocioeconomic Status and Macroeconomic Expectations -- by Sreyoshi Das,...
We show that individuals' macroeconomic expectations are influenced by their socioeconomic status (SES). People with higher income or higher education are more optimistic about future macroeconomic...
View ArticleOld-age Labor Force Participation in Germany: What Explains the Trend...
The aim of this paper is to illustrate for Germany the factors that may explain the U-shaped pattern of older men's labor force participation - from a long declining trend that began in the early 1970s...
View ArticleMr. MiFID on Financeâs Low-Fee Future
ESMA chairman Steven Maijoor may be the most powerful person in finance right now https://t.co/xlehhnJXyM via @business â Yves Hilpisch (@dyjh) November 27,â¦
View ArticleThe Profit Motive Behind Financial Complexity
The Profit Motive Behind Financial Complexity https://t.co/ygb0SWSzJn â moneyscience (@moneyscience) November 27, 2017
View ArticlePricing Derivatives under Multiple Stochastic Factors by Localized Radial...
We propose two localized Radial Basis Function (RBF) methods, the Radial Basis Function Partition of Unity method (RBF-PUM) and the Radial Basis Function generated Finite Differences method (RBF-FD),...
View ArticleOption pricing for Informed Traders. (arXiv:1711.09445v1 [q-fin.MF])
In this paper we extend the theory of option pricing to take into account and explain the empirical evidence for asset prices such as non-Gaussian returns, long-range dependence, volatility clustering,...
View ArticleOption Pricing with Orthogonal Polynomial Expansions. (arXiv:1711.09193v1...
We derive analytic series representations for European option prices in polynomial stochastic volatility models. This includes the Jacobi, Heston, Stein-Stein, and Hull-White models, for which we...
View ArticleMr. MiFID on Financeâs Low-Fee Future
ESMA chairman Steven Maijoor may be the most powerful person in finance right now https://t.co/xlehhnJXyM via @business â Yves Hilpisch (@dyjh) November 27,â¦
View ArticleQuantitative finance still needs mathematicians - Risk.net
Quantitative finance still needs mathematicians https://t.co/oeEXmkMrHl â moneyscience (@moneyscience) November 28, 2017
View ArticleThe big problem with DIY quants
Is there a problem with DIY quants? https://t.co/bKAjufFpsy â moneyscience (@moneyscience) November 28, 2017
View ArticleHolding Strong: Failed Breakdown a Boon for the Bitcoin Bulls?
Despite a dip to below $8,000 overnight, bitcoin once again approached record highs today and is holding at over $8,200.
View ArticleHybrid ICO? Overstock's tZERO to Build Services Into Security Token
Overstock subsidiary tZERO is adding features to its upcoming security token, allowing investors to use the coin to purchase a handful of services.
View ArticleIOSCO reports on implementation of G20/FSB recommendations to strengthen...
IOSCO/MR/29/2017read more...
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